ED Magedson – Founder
Exceed Inc., Groundswell, Anthony T. Laudonia Used Us To Peddle A Lifetime Contract To Consumers So They Will Make Hundreds Of Millions! Nationwide
They had us walking around with Ipads and signing up people who owned homes that were worth $100k or more. They claim they partner with all the major real estate brokers but after calling most of the brokers offices and corporate 99% of them never heard of Exceed. They tell the consumer they are going to give them anywhere from $300-$1000+ for free on a giftcard if you sign a LIFETIME contract saying that if you ever decide to sell your home you will use one of the brokers in our network and if you don't as a penalty they will charge you 1.2% of the sell of your home. But the consumer NEVER has to sell their homes and they still get the rewards.
The consumer gets five giftcards worth $100 each over a 5 year period and they get their first one a YEAR from the day they signed up. I signed up two people but then I ran into a customer who was in sells for 16 years and spit game to me and I started researching and this is what I found out. The Average house cost $265000 and it will sell for $200,000 or less (after breaking contact).Barack Obama created the HECM in 2009 three months after being elected. To help seniors be able to buy homes and increase their savings as well as move into a new home (the reverse mortgage purchase). The average home cost $265,000.
The state of Texas considers you a senior citizen at 60 so if I'm 24 now and buy a home and live in it for the next 36 years. Pay it off, then decide to move into my final place (BUT if I still have a mortgage it would become my savings and I'd get a new place either way). Most people sell there homes within 5-7 years but most people don't realize it's not financially smart to pay your mortgage off early (unless you brought you home outright). So if I get into a 30 year mortgage stay for 30 years at 54 I'll have six years left; I'll stay in my home!!! Basically this program is for young people below 60 (in their 20s or 30s) to f*** them over when they get older. And not allow them to do a Reverse Mortgage Purchase.
This program limits the amount of people we can sign up unlike energy and f**ks over people who don't read what their signing (Always READ the terms on Page 3 out of 4 on the Ipad BEFORE you sign this is a LIFETIME contact). Exceed will profit over $2600 per person we sign up their paying $15 a deal and let's say I go write a 10 pack and all 10 people sell their homes in 30 years (they won't remember me by Monday let alone 30 years from now). So Exceed knows that these people will FORGET to use a broker on the list and profit off of them. It's ethically and morally wrong and their will be a class action lawsuit once these homeowners start selling their homes.
They Get a $500 giftcard but Exceed gets $2600 from YOU! And if your home is the only asset in your nestegg that's the same equivalent of me going into your home stealing over $2000 from you and leaving a new XBOX on the ground. By the end of the day my Ipad was dead no one told us if you leave the screen on they die faster. After talking to my dad I decided to leave the company. I worked for a third party marketing company who I won't name (their already on ripoff report). Who now works with Groundswell and Groundswell in the marketing arm of Exceed. Loved the company learned a lot but now that we're no longer selling energy and I have a feeling this whole thing is going to backfire on Americans because they can do this nationwide ANYWHERE! Any city any town but I KNOW what their doing is wrong so I'm out!
This report was posted on Ripoff Report on 07/31/2014 05:36 AM and is a permanent record located here: http://www.ripoffreport.com/reports/exceed/nationwide/exceed-inc-groundswell-anthony-t-laudonia-used-us-to-peddle-a-lifetime-contract-to-co-1166331. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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